 On September 11, Kim Yoo-suk, Seongnam city councilor from Democratic United Party, attended the 198th Special Meeting held at Seongnam City Council and described Naver's failure to keep its promise by presenting a Naver-related article of AsiaToday. |
On September 11, Kim Yoo-suk, Seongnam city councilor from Democratic United Party, attended the 198th Special Meeting held at the Seongnam City Council. He urged investigation into Naver's special favors allegations after pointing out, "The original plan submitted by Naver to the city and the city council and the actual agreement are different."
Councilman Kim presented an AsiaToday article published on August 19th and said, "Naver has purchaesd a city-owned land (which was a site for venture integrated facility) in Jeongja-dong. But when it purchased the land (in 2005), it failed to keep the promises done and trifled with the city, the city council, and one million residents."
According to the councilman, Naver purchased nearly 2,000 pyong in 2005 for 34.6 billion won for less than its market value. Naver is estimated to make unfair profit of nearly 55 billion won.
In addition, Naver changed building design more than eight times, raised floor area ratios by 23 percent, and even changed the building form of a matchbox into 'L' form. In this process, Naver gave up building the venture integrated facility.
For these benefits, Naver promised to donate 5 percent of its annual income to the city and the city council but it failed.
 On September 11, Kim Yoo-suk, Seongnam city councilor from Democratic United Party, presented "Venture Tower Construction Plan" and "Implementation Agreement" submitted to Seongnam city and Seongnam City Council. |
Kim added, "The agreement signed between Naver and Seongnam City in 2004 is different with the one approved by the city council and not properly performed. All the contracts made between Naver and the city are null and void. Also, investigation should be made into Naver's special favors allegations."